Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against Advanced Emissions Solutions, Inc. (“Advanced Emissions” or “Company”) (NasdaqCM: ADES) and several officers and directors for acts taken during the period of March 14, 2013 to March 12, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Advanced Emissions. If you are an affected Advanced Emissions shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at email@example.com. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that the Defendants made false and or misleading statements and or failed to disclose that the Company was utilizing improper accounting practices, particularly with respect to its method for recognizing revenue for its Emission Control business segment contracts. As a result of these improper practices the Company would have to restate its reported financial statements. Additionally, the Company was experiencing increased operating losses, due to a reduction of revenues and margins for is Emission Control segment with a corresponding increase in backlog. As a result of the above, the Company’s financial statements were materially false and misleading at all relevant times.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.